World Economy

Cyprus Trade Deficit Widens

Cyprus Trade Deficit WidensCyprus Trade Deficit Widens

Cyprus’s trade deficit widened 34%, or €636 million ($716 million), to over €2.5 billion, year-on-year in the first seven months of 2016, as the value of exports soared and that of exports plunged, the statistical service said, CBM reported. Total imports rose 15% in January to July, to almost €3.5 billion, compared to the respective period of 2015, while total exports dropped 17% to €944 million, Cystat said in a statement on its website on Friday citing preliminary data. The 2016 import figures include ships with a total value of €563.4 million and other transport equipment worth €35.7 million.